Israel is selling USTs to support its currency, not buying USTs in a flight for safety.

Note that Israel is selling USTs to support its currency, not buying USTs in a flight for safety.

Foreigners in total own $7.6 trillion in USTs, against $13T in offshore USD-denominated debt.

The convexity of net effective UST supplies as USD rises remains very underestimated. https://t.co/EZbd7EjGYK

— Luke Gromen (@LukeGromen) October 9, 2023

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The Israeli Shekel has declined to its lowest value against the U.S. Dollar since January 2016 pic.twitter.com/ToffK8eswh

— Barchart (@Barchart) October 10, 2023